Country of Operation
SummaryAspen is a supplier of branded and generic pharmaceuticals in more than 150 countries across the world and of consumer and nutritional products in selected territories.
Key program components
The need for antiretroviral treatment in South Africa is acute. Without significant changes, current projections indicate that 3.5million South Africans will die of AIDS-related infections by 2010. In 1997, Stephen Saad sold his shares in the Covan Zurich pharmaceutical company and, along with two others, founded Aspen Pharmacare with $7 million.
Its goal: to build a major pharmaceutical manufacturer capable of supplying the South African market with brand name, generic and over-the-counter medicines at affordable prices.
Aspen is now the largest producer of tablets and capsules in Africa, recording a net profit of $75 million in 2005.
Aspen's model and innovations have responded to a challenging environment, complicated by humanitarian, governmental and legal demands.